Starting Dynare (version 5.4).
Calling Dynare with arguments: noclearall
Starting preprocessing of the model file ...
Found 20 equation(s).
Evaluating expressions...done
Computing static model derivatives (order 1).
Computing dynamic model derivatives (order 1).
Processing outputs ...
done
Preprocessing completed.


EIGENVALUES:
         Modulus             Real        Imaginary

            0.65             0.65                0
            0.73             0.73                0
          0.7681           0.7681                0
               1                1                0
               1                1                0
               1                1                0
           1.134            1.103           0.2612
           1.134            1.103          -0.2612
           1.372            1.372                0
             Inf              Inf                0


There are 4 eigenvalue(s) larger than 1 in modulus 
for 4 forward-looking variable(s)

The rank condition is verified.


MODEL SUMMARY

  Number of variables:         20
  Number of stochastic shocks: 2
  Number of state variables:   6
  Number of jumpers:           4
  Number of static variables:  10


MATRIX OF COVARIANCE OF EXOGENOUS SHOCKS
Variables      eps_g1    eps_g2
eps_g1       1.000000  0.000000
eps_g2       0.000000  1.000000



MOMENTS OF SIMULATED VARIABLES
VARIABLE                      MEAN       STD. DEV.        VARIANCE        SKEWNESS        KURTOSIS
federalpurchases         -0.051699        0.168132        0.028268       -0.311993        0.283390
purchases1               -0.018277        0.133303        0.017770        0.049778       -0.451567
purchases2               -0.033422        0.132082        0.017446       -0.107934        0.236954
g1                       -0.002924        0.021328        0.000455        0.049778       -0.451567
g2                       -0.005348        0.021133        0.000447       -0.107934        0.236954
y1                       -0.000087        0.001044        0.000001        0.331360       -0.256701
y2                       -0.001582        0.007489        0.000056       -0.157637        0.239499
pi1                      -0.000123        0.000465        0.000000        0.157868       -0.283398
pi2                      -0.000123        0.000869        0.000001       -0.193055        0.158285
tau                       0.001018        0.003469        0.000012        0.116066       -0.316541
y                        -0.000610        0.002337        0.000005       -0.119075        0.485123
g                        -0.004717        0.015527        0.000241       -0.099909        0.508394
pi                       -0.000123        0.000371        0.000000       -0.278495        0.189905
i                        -0.000185        0.000542        0.000000       -0.218228       -0.125817
c                         0.000416        0.001109        0.000001        0.102387        0.062773
p_c                      -0.001442        0.004818        0.000023        0.049814       -1.426251
p2                       -0.002203        0.004865        0.000024        0.595280       -0.527301
p1                       -0.001185        0.005108        0.000026       -0.167206       -1.512081
g_output                 -0.000943        0.003105        0.000010       -0.099909        0.508394
pi_c                     -0.000123        0.000361        0.000000       -0.218228       -0.125817


CORRELATION OF SIMULATED VARIABLES
VARIABLE            federalpurchases        purchases1        purchases2                g1                g2                y1                y2               pi1               pi2               tau                 y                 g                pi                 i                 c               p_c                p2                p1          g_output              pi_c
federalpurchases              1.0000            0.6379            0.6292            0.6379            0.6292            0.3451            0.6178            0.5310            0.6823           -0.2694            0.7929            0.8615            0.9929            0.9258           -0.9266            0.0038            0.1473           -0.0426            0.8615            0.9258
purchases1                    0.6379            1.0000           -0.1973            1.0000           -0.1973            0.9262           -0.1990            0.7880            0.0021            0.3678            0.0457            0.1584            0.6443            0.7597           -0.4342            0.2586            0.0600            0.3070            0.1584            0.7597
purchases2                    0.6292           -0.1973            1.0000           -0.1973            1.0000           -0.4955            0.9873           -0.1193            0.8664           -0.7141            0.9632            0.9367            0.6137            0.4117           -0.7412           -0.2561            0.1270           -0.3640            0.9367            0.4117
g1                            0.6379            1.0000           -0.1973            1.0000           -0.1973            0.9262           -0.1990            0.7880            0.0021            0.3678            0.0457            0.1584            0.6443            0.7597           -0.4342            0.2586            0.0600            0.3070            0.1584            0.7597
g2                            0.6292           -0.1973            1.0000           -0.1973            1.0000           -0.4955            0.9873           -0.1193            0.8664           -0.7141            0.9632            0.9367            0.6137            0.4117           -0.7412           -0.2561            0.1270           -0.3640            0.9367            0.4117
y1                            0.3451            0.9262           -0.4955            0.9262           -0.4955            1.0000           -0.5248            0.8416           -0.3740            0.4167           -0.2981           -0.1682            0.3793            0.5828           -0.1967            0.3006            0.0756            0.3550           -0.1682            0.5828
y2                            0.6178           -0.1990            0.9873           -0.1990            0.9873           -0.5248            1.0000           -0.2189            0.9289           -0.6010            0.9690            0.9233            0.5838            0.3538           -0.6789           -0.2493            0.0734           -0.3382            0.9233            0.3538
pi1                           0.5310            0.7880           -0.1193            0.7880           -0.1193            0.8416           -0.2189            1.0000           -0.2529           -0.1403           -0.0012            0.1612            0.6079            0.8088           -0.5676            0.1788            0.2518            0.1446            0.1612            0.8088
pi2                           0.6823            0.0021            0.8664            0.0021            0.8664           -0.3740            0.9289           -0.2529            1.0000           -0.2692            0.9330            0.8733            0.6145            0.3644           -0.5989           -0.1713           -0.0262           -0.2077            0.8733            0.3644
tau                          -0.2694            0.3678           -0.7141            0.3678           -0.7141            0.4167           -0.6010           -0.1403           -0.2692            1.0000           -0.5529           -0.5879           -0.3353           -0.2987            0.6012            0.2506           -0.2848            0.4078           -0.5879           -0.2987
y                             0.7929            0.0457            0.9632            0.0457            0.9632           -0.2981            0.9690           -0.0012            0.9330           -0.5529            1.0000            0.9864            0.7648            0.5659           -0.8184           -0.1923            0.1043           -0.2762            0.9864            0.5659
g                             0.8615            0.1584            0.9367            0.1584            0.9367           -0.1682            0.9233            0.1612            0.8733           -0.5879            0.9864            1.0000            0.8482            0.6860           -0.9016           -0.1656            0.1493           -0.2570            1.0000            0.6860
pi                            0.9929            0.6443            0.6137            0.6443            0.6137            0.3793            0.5838            0.6079            0.6145           -0.3353            0.7648            0.8482            1.0000            0.9586           -0.9544            0.0052            0.1839           -0.0526            0.8482            0.9586
i                             0.9258            0.7597            0.4117            0.7597            0.4117            0.5828            0.3538            0.8088            0.3644           -0.2987            0.5659            0.6860            0.9586            1.0000           -0.9104            0.0680            0.2265            0.0129            0.6860            1.0000
c                            -0.9266           -0.4342           -0.7412           -0.4342           -0.7412           -0.1967           -0.6789           -0.5676           -0.5989            0.6012           -0.8184           -0.9016           -0.9544           -0.9104            1.0000            0.0730           -0.2481            0.1720           -0.9016           -0.9104
p_c                           0.0038            0.2586           -0.2561            0.2586           -0.2561            0.3006           -0.2493            0.1788           -0.1713            0.2506           -0.1923           -0.1656            0.0052            0.0680            0.0730            1.0000            0.8566            0.9861           -0.1656            0.0680
p2                            0.1473            0.0600            0.1270            0.0600            0.1270            0.0756            0.0734            0.2518           -0.0262           -0.2848            0.1043            0.1493            0.1839            0.2265           -0.2481            0.8566            1.0000            0.7591            0.1493            0.2265
p1                           -0.0426            0.3070           -0.3640            0.3070           -0.3640            0.3550           -0.3382            0.1446           -0.2077            0.4078           -0.2762           -0.2570           -0.0526            0.0129            0.1720            0.9861            0.7591            1.0000           -0.2570            0.0129
g_output                      0.8615            0.1584            0.9367            0.1584            0.9367           -0.1682            0.9233            0.1612            0.8733           -0.5879            0.9864            1.0000            0.8482            0.6860           -0.9016           -0.1656            0.1493           -0.2570            1.0000            0.6860
pi_c                          0.9258            0.7597            0.4117            0.7597            0.4117            0.5828            0.3538            0.8088            0.3644           -0.2987            0.5659            0.6860            0.9586            1.0000           -0.9104            0.0680            0.2265            0.0129            0.6860            1.0000


AUTOCORRELATION OF SIMULATED VARIABLES
VARIABLE                  1        2        3        4        5
federalpurchases     0.6021   0.2509   0.0598  -0.0610  -0.1551
purchases1           0.6467   0.3650   0.1990   0.0775   0.0351
purchases2           0.6917   0.4317   0.2919   0.1690   0.0300
g1                   0.6467   0.3650   0.1990   0.0775   0.0351
g2                   0.6917   0.4317   0.2919   0.1690   0.0300
y1                   0.6303   0.3652   0.2146   0.0764   0.0093
y2                   0.6357   0.3453   0.2079   0.0939  -0.0360
pi1                  0.5972   0.3108   0.1234  -0.0676  -0.1738
pi2                  0.5512   0.2021   0.0600  -0.0355  -0.1456
tau                  0.9428   0.8369   0.7057   0.5626   0.4177
y                    0.6268   0.3135   0.1617   0.0492  -0.0816
g                    0.6515   0.3451   0.1821   0.0596  -0.0766
pi                   0.6195   0.2822   0.0848  -0.0523  -0.1563
i                    0.6285   0.3112   0.1038  -0.0614  -0.1648
c                    0.7004   0.4175   0.2222   0.0577  -0.0875
p_c                  0.9903   0.9816   0.9714   0.9604   0.9493
p2                   0.9799   0.9382   0.8915   0.8455   0.8036
p1                   0.9876   0.9770   0.9638   0.9491   0.9339
g_output             0.6515   0.3451   0.1821   0.0596  -0.0766
pi_c                 0.6285   0.3112   0.1038  -0.0614  -0.1648



VARIANCE DECOMPOSITION SIMULATING ONE SHOCK AT A TIME (in percent)
                              eps_g1            eps_g2  Tot. lin. contr.
federalpurchases               63.50             62.34            125.83
purchases1                    101.01              0.00            101.01
purchases2                      0.00            101.01            101.01
g1                            101.01              0.00            101.01
g2                              0.00            101.01            101.01
y1                             77.68             14.75             92.43
y2                              0.20            101.95            102.15
pi1                            73.28             31.91            105.19
pi2                             3.79            104.74            108.53
tau                             6.82             77.69             84.51
y                               5.79            105.77            111.56
g                              12.88            102.46            115.35
pi                             65.41             60.31            125.72
i                              81.65             40.76            122.41
c                              40.16             80.60            120.75
p_c                            12.75             77.65             90.40
p2                              8.68             96.18            104.86
p1                             13.31             71.97             85.28
g_output                       12.88            102.46            115.35
pi_c                           81.65             40.76            122.41
Note: numbers do not add up to 100 due to non-zero correlation of simulated shocks in small samples

Total computing time : 0h00m05s
